President Donald Trump endorsement sends Dell Technologies stock up 7.8%
Dell Technologies got an unexpected boost when President Donald Trump told Americans to "go out and buy a Dell computer" during the launch of Trump Accounts, a new savings program for kids.
That quick endorsement sent Dell's stock up 7.8% in a single day.
Trump accounts give $1,000 treasury-backed deposit
Trump Accounts, backed by Michael and Susan Dell, give babies born between 2025 and 2028 a $1,000 Treasury-backed deposit to kick-start their savings.
More than half a million accounts have already been funded, with big names like Goldman Sachs and BlackRock promising matching contributions for employees' children.
At the launch, Trump called Michael and Susan Dell "truly incredible," while Michael Dell said it's all about creating opportunities for millions of children.
Even SpaceX chipped in by donating shares for more than two million accounts.